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Spot Gold Jumps Above $5,330 as Trump Calls for Sharper Rate Cuts
According to BlockBeats News, on January 30, spot gold prices surged during a speech by U.S. President Donald Trump, climbing sharply and breaking above $5,330 per ounce.
The rally came after Trump stated that U.S. interest rates should be 2 to 3 percentage points lower, a comment that immediately drew market attention. Calls for aggressive rate cuts tend to support gold prices, as lower interest rates reduce the opportunity cost of holding non-yielding assets such as gold.
Gold’s swift upward move reflects heightened sensitivity to political commentary and monetary policy expectations, particularly in an environment where markets are closely watching signals around future Federal Reserve decisions. The price action also suggests renewed demand for safe-haven assets amid uncertainty surrounding economic policy direction.
Overall, the surge in spot gold underscores how interest rate expectations and political rhetoric continue to play a key role in driving precious metals markets, with traders reacting quickly to any indication of looser monetary conditions.#GateLiveMiningProgramPublicBeta